Average Derry house price sale now £99K.

The average sale price of a house in Derry/Strabane is now �99,322.

11:07Friday 07 February 2014

The average sale price of a house in the Derry-Strabane region is now £99,322.

The latest University of Ulster Quarterly House Price Index, produced in partnership with Bank of Ireland UK and the Northern Ireland Housing Executive, also reveals that the overall average sale price for NI fell over the quarter but rose by 14.2% over the year.

All in all, a rising volume of house sales and a quarterly increase in prices in the last three months of 2013 is seen as further evidence that the North’s housing market is showing positive signs of recovery.

The report highlights rising transaction levels which supports the general view of greater vibrancy in the Northern Ireland market.

The average house price across NI in the final quarter of last year was £132,922, a weighted increase of 2.7% over the third quarter.

Although the average price was still down on a year previously, the report said the quarterly rise suggested that price levels were starting to respond to growing demand in the market.

The authors of the report say that a further rise in transaction volumes allied to evidence of rising prices in the final quarter of 2013 suggests “we may be witnessing an end to the effects of the lengthy downturn in the residential market in Northern Ireland, although there remain significant variations across the region.”

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